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Below is an Interesting article I found, which says that.....Do not . p" J0 f( r6 S( g, z8 U
expect much from Crude Oil producers and future is not with the `* M& Y" {1 P6 d3 f) a* ^9 L
companies producing Jet fuels but Biofuels. Also no wonder if some of 0 ^6 X: s. T; I+ J+ A5 j- q) p
these oil producer will go bankrupt or out of the business even if
/ j R4 U# ]/ Z( G9 Vcrude prices improves. This implies also to good names such as Shell, 1 I$ K1 V3 x2 \1 q" T- Q7 ^
EXXON, BG, BP, Cheveron ....xyz.. oils ( k" O- d7 t) k! V( g8 I8 ]$ U1 P# H
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Recently OPEC reduced crude oil production twice over just a few
: r; m; z1 A* `' o1 Omonths. There are three wars going on in Gaza, Iraq and Afghandistan. % p3 J+ T' t7 u8 S- g
A year ago these things would have spiked the price of crude oil by at . n! s' L% k( v* S h$ J F: @
least $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
% d8 W0 O, b3 ]' Y d cof so much news. These reasons are: 8 _5 r0 H; e' h9 \
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" h) T6 F# J2 ^: Q" _1. New oil has been found in Canada, Montana, North & South Dakota and
- U6 q, Z" {- T0 l: Q8 W! Fin the ocean near Brazil. Each of these oil fields has more oil than ' c- a W4 h& ~! T* X
Arabia. & Y0 s. y W+ O% r
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0 `: l. P% J: g! Q5 P2. New natural gas has been found in Pennsylvania and West Virginia.
$ N" Y' W2 J# {5 |This is the largest find in North America.
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8 h8 @7 I. g9 F! T, D3. New methods of injecting CO2 and surfactants into oil wells is
; n" H+ y4 E. B( Ubeing used to double their output.
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8 S4 V) H$ x7 ?8 t4. Production of bio-fuels is beginning to reach critical mass. Bio * v! X& [7 Z W& L: t4 Y6 T
fuel is being produced from many plants and algae. The production 8 h4 p; z: Y$ Q. f3 C3 d
potential per acre in some cases is astounding. Many countries are
; O& U0 ]; s4 f0 b! {0 {' g( \& Cracing to produce bio fuels. # J% ?4 h( y6 O3 w% d1 G1 G
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5. Virtually every restaurant in the US and all food processing plants
5 U r; a2 L/ ~) H( T, Aare now selling their used oil to bio-diesel producers. Every pork,
1 z8 K$ ?( V) C) E+ J% vcattle, turkey and chicken processing plant will soon sell their fat
?/ Z" ^) Z! Y/ B5 Q2 `8 u# xto bio-diesel producers. One pork processing plant in Oklahoma is
- h8 U/ ~- X& x( R! Z' D* B' p" Fproducing 30,000 gallons of bio-diesel per day from pork fat.
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( [* p& h, Z: U+ M6. There are 99 nuclear reactors in various stages of planning and : Q- A2 f) n Y) c9 y' X6 L8 k
construction around the world at this time. Several hundred more are 1 [2 E$ v$ x) C% H% b% Q W
expected to be built in the future. Much of the energy they produce
5 Y$ R& g* C) N# c1 D5 Y& cwill replace oil. & c- G9 \" l* d4 g) h2 L- C. g
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! U8 X2 f" F4 b7. Every company in any form of transportaion business is replacing 7 {- t) u8 q/ {, e7 H8 h& ^
older equipment such as trucks, airplanes, train engines, ships, etc.
, A9 F) k9 ]; w, X( A0 Qwith new more fuel efficient equipment. Airlines and railway companies , q1 `( n* m5 ^& x
are experiencing 20% to 25% better fuel econony with the new
8 K+ p. s8 v# Gequipment.
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. u* l! h4 p& rAirlines are flying airplanes with bio-fuel. They are finding the bio- ' y% u# h# E" n; v q `2 Q# z
fuel is cleaner and performs better than jet fuel.
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# I, L+ k! r; v7 K( A8. Cities and counties throughout the US are selling the rights to
5 E% [9 D+ [# Mcapture methane gas from landfills. This is a huge source of gas
8 @9 s# L5 t" f$ W cavailable at very little cost or risk. The gas is displacing crude 1 `" Y( o; q8 Z! B7 s2 r! d! q z5 ^" Y
oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
6 m( n$ w' P. g" z. V' K+ i, vproduced as a byproduct is sold to oil companies for injection into & O; F/ x v: ~* Z
oil wells.
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9 P& J8 l0 L* a0 F; S10. Solar, wind and ocean energy is displacing oil as an energy
- \- I& a4 t2 t A- E! c" L. f/ P) Qsource. Three new wind turbines are being erected every day in the US.
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Each of the above by itself will not make a large difference in the % G3 h+ |! D& N' c
price of crude oil but the sum of all of them together is world # B4 w$ Y4 ~; N# ^/ l
changing. The important thing is that OPEC no longer has the ability " w5 O. |5 a0 m2 f5 Y* R: Z2 M
to control oil prices.
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With the above scenario, I still believe that there are under
4 r0 t7 {9 H0 N0 B& Tperformed OIL companies and probably they are yet to get the justified
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3 j4 S- o, x% e; u* u% ?IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... , F# e" ~. K3 H# p2 r; l, V) P1 H. b: n
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5 G5 v: b* l4 o& gThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
, h( d8 L% V! E* V, t6 I2009 ... FYI-Only |
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